Interest on housing loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 September 2018
Hi,
Can you please clarify that interest on housing loan exemption of Rs.2,00,000/- is applicable consolidated for both husband and wife or can each one claim exemption of Rs.2,00,000/- + Rs.2,00,000/- Separately if they are working.
Can you please clarify that interest on housing loan exemption of Rs.2,00,000/- is applicable consolidated for both husband and wife or can each one claim exemption of Rs.2,00,000/- + Rs.2,00,000/- Separately if they are working.
28 September 2018
If the loan is in joint names and the residential house is equally owned by them, then each co-owner can claim Rs. 2,00,000. Please also refer section 24(b) of the Income tax Act,1961.
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